Tarveda Therapeutics, Inc., a Watertown, MA-based clinical-stage biopharmaceutical company discovering and developing Pentarins™ as a new class of potent and selective cancer medicines, raised $30m in Series D equity financing.
The round was led by new investor Versant Ventures with participation from existing investors New Enterprise Associates, Novo A/S, NanoDimension and Flagship Pioneering. In conjunction with the funding. Guido Magni, MD, PhD, and Partner at Versant Ventures will join Tarveda’s Board of Directors.
Led by Drew Fromkin, President and Chief Executive Officer, Tarveda is developing Pentarins, a new class of potent and selective miniaturized drug conjugates with enhanced targeting capabilities for the treatment of solid cancer tumors.
The company intends to use the funds to advance its Pentarin platform. Planned development activities include completing Phase I dose-escalation and safety studies of PEN-221, a miniaturized conjugate targeting somatostatin receptor 2 (SSTR2), which is expressed in neuroendocrine and small cell lung cancers, and initiating and advancing its Phase 2A studies, conducting Phase I dose-escalation and safety studies of PEN-866, a miniaturized HSP90-targeting drug conjugate for use in advanced, topoisomerase 1-sensitive cancer patients, as well as developing additional candidates.